Apple's iPhone 5 could have a material effect on the United States gross domestic product, at least in the fourth quarter of the year, according to JP Morgan Chase.

Consumer spending is 70 percent of the U.S. economy. We've noted that impressive figure in previous columns, but it is worth repeating because it provides a real sense of inclusion for Arkansas consumers. What it should mean to each of us is our individual purchases help make up the overall economic vitality of our state and nation. We are players in the economic equation. Sometimes it just doesn't feel like it.